UAE market news & discussions for 30 April 2007As sure as eggs are eggs, we got the usual commentary from the eggheads about the Deyaar IPO sucking liquidity out of the market yesterday. The Times (UK) reported that DP World were considering a partial IPO worth AED 7 billion. DP World declined to comment. What will be said about liquidity if that goes ahead? |
- 30 April 2007 UAE stockmarket and business news
- NCTH 2007 Q1 results
- DP World listing
- ETISALAT increases shareholding of Atlantic Telecom to 70%
- ASMAK 2006 FY loss AED 17m -1853% from 2005
- DANA 2006 FY profit less than AED 821m (includes IPO income?) - 30 Jan 07
- 2007 Q1 results for DFM and ADSM companies
- AKIC 2007 Q1 earnings
- SHOP 2007 Q1 earnings - BOD meeting 06 May 2007
- TABREED 2007 Q1 profit AED 31m +25% from 2006 Q1
- DDC 2006 FY results
- JEEMA 2006 FY profit AED 4.25m +27% from 2005 - 31 Jan 2007
- IAIC 2006 FY profit AED 181m +63% on 2005 - 01 Feb 2007
- DRIVE denies knowledge of why share price surging - 30 Apr 2007
- GULFNAV 2007 Q1 earnings
- GLOBAL 2007 Q1 earnings
- GFH 2007 Q1 profit AED 264m up 27%
- MASQ 2007 Q1 earnings
- OILC 2007 Q1 profit AED 28m up 117% on 2006 Q1
- CBI 2007 Q1 earnings? BOD meeting 18 Apr 2007
- FTC 2007 Q1 earnings
- QTEL 2007 Q1 profit AED 522m up 28.5%
- 29 April 2007 UAE stockmarket and business news
- ADCB 2007 Q1 profit AED 470m down 25% from 2006 Q1
- Deyaar IPO AED 3.2 bn 06-16 May 2007
More UAE stock market news and discussions...
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Dubai Financial Market
DFM didn't look encouraging today with an initial slight fall, but just towards the end of trading, the index picked up with a 0.4% increase to 3821 by the end of the session. Total traded value was a moderate AED 622m. Emaar Properties PJSC (EMAAR) seems to be falling off the market radar with no change in price and only 66m dhs worth of trading.
Big move for DFM shares which rose 6.9% to 2.65 on solid volumes, Tamweel PJSC (TAMWEEL) not far behind with a 5% rise to 3.57. And in third place for increase on active trading was GULFNAV up 3.7% to 1.13. Amlak Finance Company (AMLAK), Union Properties PJSC (UPP), and National General Cooling Company PJSC (TABREED) rose 1-2%, other rises on active trading were less than 1%.
Only three falls of note - Aramex PJSC (ARMX) down 0.5%, Dubai Investments PJSC (DIC) down 0.7%, and Islamic Arab Insurance Company PSC (IAIC) down 1.1%.
Abu Dhabi Securities Market
ADSM rose slightly by 0.13% to close at 3053 points. Total value of 314m dhs comprised a staggering 140m dhs worth in Gulf Cement Company (GCEM), with yet another huge rise of 8.4% today to close at 7.10. Notably, 6 out of the top 10 rises today were building industry related (all increasing by more than 5%), including 4 cement companies but on light to insignificant trading volumes. Ras Al Khaimah Cement Company (RAKCC) was up only 1% but on moderately active trading volume.
Other notable rises for ADNH up 5.7% with 5.8m dhs of trading, AKIC up 4.5% from 9m dhs of trading, and Sudan Telecom Company Ltd (SUDATEL) up 2% from 9.8m dhs worth. Sorouh Real Estate (SOROUH), Abu Dhabi National Energy Company (TAQA), Union National Bank (UNB), and Aldar Properties PJSC (ALDAR) rose less than 1%.
DRIVE fell 4.6% after the big rise yesterday but volume was down to just 1m dhs worth. Finance House PJSC (FH) fell 2.4% on a busier than normal 2.3m dhs worth. Abu Dhabi Islamic Bank (ADIB) down 2.3% from 16m dhs worth. No other significant falls. Ras Al Khaimah Properties PJSC (RAKPROP), Emirates Telecommunications Company (ETISALAT), Abu Dhabi Commercial Bank (ADCB), ARKAN, Aabar Petroleum Investments Company PJSC (AABAR), Dana Gas PJSC (DANA) all fell less than 1%.
- Comment on this report and view previous reports on the Share Wadi blog.
- Discuss UAE companies at Dubai Share Talk.
Last Trading Days this week - Record Date is two days later (E&OE)
- DIC last trading day 01 May 2007 - if quorum at 04 Apr 2007 AGM
- JEEMA last trading day 30 Apr 2007? Or record date?
- TABREED last trading day - possibly 30 Apr 2007? Or 06 May 2007?
AGMs and EGMs (E&OE) this week
- AABAR AGM 01 May 2007 - deferred from 24 April 2007
- ASMAK AGM 29 Apr 2007 - postponed from 28 Mar 2007 and 22 Apr 2007
- DANA AGM 29 April 2007 - no dividends?
- IAIC AGM 29 Apr 2007 - no mention of dividends?